Omega Flex, Inc. (NASDAQ:OFLX) Short Interest Down 20.1% in March

Omega Flex, Inc. (NASDAQ:OFLX - Get Free Report) was the target of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 41,700 shares, a decrease of 20.1% from the March 15th total of 52,200 shares. Based on an average trading volume of 23,800 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.2% of the company's stock are sold short.

Omega Flex Trading Down 2.7 %

Shares of OFLX stock traded down $0.80 on Friday, reaching $29.20. 19,703 shares of the stock were exchanged, compared to its average volume of 24,937. The company has a market capitalization of $294.74 million, a price-to-earnings ratio of 16.13 and a beta of 0.38. The business's 50 day moving average price is $35.72 and its 200 day moving average price is $42.34. Omega Flex has a twelve month low of $29.04 and a twelve month high of $68.50.

Omega Flex (NASDAQ:OFLX - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The industrial products company reported $0.46 EPS for the quarter. The business had revenue of $26.97 million for the quarter. Omega Flex had a return on equity of 22.68% and a net margin of 17.71%.

Omega Flex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 22nd. Investors of record on Thursday, April 10th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $1.36 annualized dividend and a yield of 4.66%. Omega Flex's dividend payout ratio is currently 75.98%.

Institutional Investors Weigh In On Omega Flex

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp increased its position in shares of Omega Flex by 3.4% during the third quarter. State Street Corp now owns 74,196 shares of the industrial products company's stock worth $3,729,000 after purchasing an additional 2,433 shares in the last quarter. Barclays PLC increased its position in Omega Flex by 405.9% during the third quarter. Barclays PLC now owns 6,450 shares of the industrial products company's stock worth $323,000 after buying an additional 5,175 shares during the period. Geode Capital Management LLC lifted its stake in Omega Flex by 2.7% in the third quarter. Geode Capital Management LLC now owns 89,362 shares of the industrial products company's stock valued at $4,461,000 after buying an additional 2,358 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Omega Flex by 51.2% in the third quarter. JPMorgan Chase & Co. now owns 13,512 shares of the industrial products company's stock valued at $675,000 after acquiring an additional 4,578 shares during the period. Finally, Inspire Investing LLC grew its position in shares of Omega Flex by 10.7% during the fourth quarter. Inspire Investing LLC now owns 19,162 shares of the industrial products company's stock worth $804,000 after acquiring an additional 1,856 shares during the last quarter. 36.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Omega Flex from a "hold" rating to a "buy" rating in a research report on Tuesday, April 8th.

Omega Flex Company Profile

Omega Flex, Inc, together with its subsidiaries, manufactures and sells flexible metal hoses and accessories in North America and internationally. It offers flexible gas piping for use in residential and commercial buildings; fittings; containment pining; and corrugated medical tubing for use in hospitals, ambulatory care centers, dental, physician and veterinary clinics, laboratories, and other facilities.

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